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Todd & Lisa McLain, RE/MAX Properties IncPhone: (719) 290-6734
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Luxurious Neighborhoods in the USA ~ Aspen, CO Made the List!

by Todd & Lisa McLain 03/05/2020

Image by skeeze from Pixabay

When looking for a luxury home, you can look for the most expensive neighborhood in the United States, or you can choose a luxury neighborhood in the part of the country you want to live in. Before you move to a different state, be sure you'll like the part of the country you choose.

Luxury Home Price Variances

Depending on where you choose to live, the cost of luxury varies — and it varies widely. You’ll find luxurious neighborhoods in Rapid City, South Dakota for a median price of $242,200. The most expensive luxury neighborhood is in zip code 94027 — Atherton, California. This luxury neighborhood has a median home price of $7,313,400.

Other luxury neighborhoods include:

  • 96821 — Honolulu, Hawaii, with a median price of $1,370,900;

  • 85253 — Paradise Valley, Arizona, with a median price of $1,588,200;

  • 60610 — Chicago, Illinois, with a median price of $1,885,900;

  • 06830 — Greenwich, Connecticut, with a median price of $2,056,900;

  • 33921 — Palm Beach, Florida, with a median price of $4,394,000; and

  • 81611 — Aspen, Colorado, with a median price of $4,869,200.

You can live in a luxury neighborhood for less money if you choose a state with a lower luxury median price. You’ll find that the cost of living is also less in those states. However, make sure the area you choose has the amenities you want. If you are expecting to have theme parks, upscale shopping and other amenities, you might want to choose a larger city, even though the median luxury price is much higher.

What to Look For in a Luxury Home

In some cases, luxury costs under $300,000 – and in other cases, it’s not luxury until you hit several million dollars. Regardless of the median luxury home price, always check what prices homes sold for in the neighborhood and the quality of the materials used to build the home. Other items to check include:

  • Are the appliances upgraded?

  • Did the builder use high-quality fixtures, including faucets and toilets?

  • Are the cabinets real wood?

  • Is the flooring top quality tile, wood or some other covering?

  • Is the carpet high-quality or “builder’s quality?”

  • What kind of windows are in the house? Are they at least double-pane windows?

  • Is the trim in the house made of real wood, stone or some other quality material?

  • Is the yard well-maintained?

  • Does the house have large bedrooms and closets?

  • Does the house have extras, such as a pantry, bonus rooms or a pool?

When you check for comparables, don’t forget to allow for those extras. The home you are looking at might not have the same amenities as another home in the neighborhood that is going for the same price. This leaves things open for negotiations if not having something, such as a pool, is not a deal-breaker.

About the Author
Author

Todd & Lisa McLain

Todd McLain is proud to be the leader of The McLain Group at RE/MAX Properties, Inc. He is a third generation Colorado native and truly loves the lifestyle this beautiful part of the country offers. He graduated summa cum laude from the University of Colorado. Before joining the real estate profession 18 years ago, he was a teacher in Cherry Creek Schools and Academy School District and was nominated twice for Disney’s American Teacher Award. Lisa, originally from Minnesota, has called Colorado home for 30 years. It was her training to become a Registered Dietitian that brought them to the Pikes Peak Region nearly 27 years ago and they are convinced there isn’t a better place to raise a family. At any given time, they may be found hiking, biking or snowmobiling, enjoying friends, family and church events or visiting their sons, now busy college students in Washington and Texas. 

Todd and Lisa are experienced professionals committed to providing their clients with superior real estate service throughout the home buying and selling processes. They provide current and accurate information, expert analyses and intelligent problem solving to empower their clients to achieve their real estate goals. They invest in understanding clients’ goals and in building long term relationships by providing value to the client and demonstrating respect for their clients’ interests and objectives. Todd and Lisa measure success by repeat business and the referrals to family and friends received from past clients.